![Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Assessee-Prove-Entries-Credit-against-Income-tax-Act-ITAT-Revenue-Depts-Appeal-taxscan.jpg "Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Depts Appeal [Read Order]")
Assessee failed to Prove Entries of Credit against Addition section/s 68 of Income tax Act: ITAT allows Revenue Dept's Appeal [Read Order]
In a recent ruling, the Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) confirmed the addition made under Section 68 of the Income Tax...
![Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/Income-Tax-Exemption-Salaried-Employees-Income-Tax-Exemption-for-Salaried-Employees-taxscan-1.jpg "Income Tax Addition made towards Unsubstantiated Share Capital is eligible for Deduction u/s 80-IC of Income Tax Act: Delhi HC [Read Order]")
![Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/ITAT-Delhi-ITAT-Income-Tax-Legitimate-fund-transfers-and-tax-implications-Balance-sheet-proof-for-Section-68-cases-Taxscan.jpg "Addition u/s 68 is invalid When Creditworthiness of Money was proved by Balance Sheet showing Legitimate Fund Transfer to Company: ITAT [Read Order]")
![Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/03/Share-Capital-Directors-Shareholders-Directors-and-Shareholders-of-Company-ITAT-taxscan.jpg "Share Capital from Directors and Shareholders of Company duly discharged with Evidence: ITAT deletes addition u/s 68 of Income Tax Act [Read Order]")
ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]
The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has held that the Employees Stock Ownership Plan (ESOP) expenditure incurred towards raising of share capital was allowable as revenue...
![ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ESOP-ESOP-Expenditure-Share-Capital-Capital-ESOP-Expenditure-Incurred-towards-Raising-Share-Capital-Revenue-Revenue-Expenditure-ITAT-taxscan.jpg "ESOP Expenditure Incurred towards Raising Share Capital is Allowable as Revenue Expenditure: ITAT [Read Order]")
Addition of Share Premium and Share Capital u/s 68 of Income Tax Act can't be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the addition of share premium and share capital cannot be imposed by ignoring the evidence produced by the assessee. The...
![Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Addition-Share-Premium-Share-Capital-Income-Tax-Act-imposed-ignoring-Evidences-produced-Assessee-ITAT-taxscan.jpg "Addition of Share Premium and Share Capital u/s 68 of Income Tax Act cant be imposed by ignoring Evidences produced by Assessee: ITAT [Read Order]")
Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench held that the issue of share capital through qualified institutional placement (QIP) with Qualified Institutional buyers is public subscription....
![Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/08/Issue-of-Share-Capital-through-QIP-Share-Capital-Qualified-Institutional-Qualified-Institutional-buyers-Public-Subscription-ITAT-directs-Re-adjudication-ITAT-Re-adjudication-taxscan.jpg "Issue of Share Capital through QIP with Qualified Institutional Buyers are Public Subscription: ITAT directs Re-adjudication [Read Order]")
Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition made by the assessing officer in respect of share capital without considering the relevant documents and evidence by...
![Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/07/ITAT-Upholds-Rejection-of-Claim-of-Exemption-of-Income-Tax-Act-due-to-Utilisation-of-Income-for-Religious-Expenses-More-than-Prescribed-Limit-TAXSCAN-1.jpg "Addition made by AO in Respect of Share Capital without Considering Relevant Documents and Evidences: ITAT Deletes Addition [Read Order]")
No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]
The New Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that no addition can be made on any unaccounted share capital when it was already taxed under the category of ‘source of income’. ...
![No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/No-Addition-Unaccounted-Share-Capital-Source-of-Income-Income-Tax-ITAT-taxscan.jpg "No Addition can be made on Unaccounted Share Capital when it already Taxed under Category of ‘Source of Income’ : ITAT [Read Order]")
Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune Bench, has recently, in an appeal filed before it, while upholding the addition of suo motu offering for tax, held that sale proceeds of land introduced...
![Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Sale-Proceeds-of-Land-Land-Share-Capital-AOP-taxable-ITAT-Suo-Motu-Offering-for-Tax-Suo-Motu-Tax-taxscan-.jpg "Sale Proceeds of Land introduced as Share Capital in AOP taxable u/s 45(3): ITAT upholds Addition of Suo Motu Offering for Tax [Read Order]")
Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the addition of unverified share capital without incriminating material is not sustainable u/s 153 of Income Tax Act 1961. A...
![Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Unverified-share-capital-material-ITAT-taxscan.jpg "Addition of Unverified Share Capital without Incriminating Material is not sustainable u/s 153: ITAT [Read Order]")